|  |  |  |  |
| --- | --- | --- | --- |
|  |  | Three months ended Mar. 31, |  |
|  |  | 2021
(Unaudited) |  |  | 2020
(Unaudited) |  |
| Cash Flows from Operating Activities |  |  |  |  |  |  |
| Net income (loss) |  | $ | (3,393 | ) |  | $ | 38,072 |  |
| Adjustments to reconcile net income (loss) to net cash flows provided by operating activities: |  |  |  |  |  |  |  |  |
| Gain on sale of aircraft |  |  | — |  |  |  | (31,717 | ) |
| Depreciation |  |  | 29,967 |  |  |  | 31,631 |  |
| Flight equipment impairment |  |  | 22,546 |  |  |  | — |  |
| Amortization of debt discounts and debt issuance costs |  |  | 2,114 |  |  |  | 1,875 |  |
| Amortization of lease incentives and other items |  |  | 1,421 |  |  |  | 604 |  |
| Provision for uncollectible operating lease receivables |  |  | 1,000 |  |  |  | — |  |
| Fair value (gain) loss on marketable securities |  |  | (1,839 | ) |  |  | 9,412 |  |
| Loss on extinguishment of debt |  |  | — |  |  |  | 850 |  |